HIWAYFX DEDUCTION FROM MY ACCOUNTS 16166, 11042,18558,11980

Bamdell

Recruit
Messages
5
I became the partners to Hiwayfx 12th June 2016, I have been trading receiving the commission as at when due without delay. I have a MAM account where I managed investors account, I introduced all the clients to Hiwayfx.
I have been trading different types of lot size on my 12298 MAM account without any complaining from both parties. We agreed on spread widening for the trading account of all clients referred by me 3(three) points per integral lot for standard account, the company pay me 28 (twenty -eight) USD per integral lot for standard account nominated is USD for trading forex and metals. Commission for oil and indices. All my referrals aware the spread widened
On 25th August I placed a withdraw $3500 from my partners account 11042 it was pending . 26th August I asked the reason why my withdrawal was pending very unusual, instead of reply they started blocking my accounts, marked all my account as read only. As at 29th August, the balance of my accounts was as followed: 16166 $5075.37, 11042= $9534.47 18558= $373.86 11980= $2755.77 30thAugust they deducted all the funds from my accounts and my clients' accounts, I got different emails from Finance and Support accusing and alleging of offense I did not commit. 1.That I used a bug on MAM platform, 2. That I made abnormal commission, 3. That I try to withdraw fraudulently earned money. 4. Abnormal activity on my accounts. 5 That I make False commission 6.That I manipulate the commission scheme.
1. Used bug on MAM account= I did not use a bug on MAM account, I did manual trading throughout, I traded with 0.01lots because of my volume trades, I used instant execution to place the trade like 10-15trades, I watched the trade went to at 3pips , then I closed it. You accept scalping and hedging that is what I did.
2. I did not try to withdraw fraudulently earned money, I have been withdrawn every week since the beginning of my partnership, I try to withdraw as usual from my partner's account.
4. FALSE COMMISSION = I don't make false commission, I make the true commission
5. ABNORMAL ACTIVITY ON MY ACCOUNT= There was no abnormal activity on my account, what they called abnormal is transfer to my clients accounts the system and company permits me to do that as a partner. in which I used to do. All 28 clients under my ib attached to my MAM account made a deposit to their account through me. I made a deposit to my transit account using my VISA debit card, I then transferred it to the client's account. Look at my transfer and withdraw history to ascertain this.
5. That I manipulate the commission scheme.= No, I didn't manipulate any commission, it was what we agreed upon that gave me the commissions By trading volume trades.

I wrote to their complaint department, they did nothing about the matter. Please tell them to pay all funds in my accounts.
 

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Tooncastle

Recruit
Messages
56
That's awful... Keep applying pressure anyway you can to try to get them to return your funds. Failing that call your credit card company and see about a charge back.
 

FxMaster

Lt. Colonel
Messages
10,237
I became the partners to Hiwayfx 12th June 2016, I have been trading receiving the commission as at when due without delay. I have a MAM account where I managed investors account, I introduced all the clients to Hiwayfx.
I have been trading different types of lot size on my 12298 MAM account without any complaining from both parties. We agreed on spread widening for the trading account of all clients referred by me 3(three) points per integral lot for standard account, the company pay me 28 (twenty -eight) USD per integral lot for standard account nominated is USD for trading forex and metals. Commission for oil and indices. All my referrals aware the spread widened
On 25th August I placed a withdraw $3500 from my partners account 11042 it was pending . 26th August I asked the reason why my withdrawal was pending very unusual, instead of reply they started blocking my accounts, marked all my account as read only. As at 29th August, the balance of my accounts was as followed: 16166 $5075.37, 11042= $9534.47 18558= $373.86 11980= $2755.77 30thAugust they deducted all the funds from my accounts and my clients' accounts, I got different emails from Finance and Support accusing and alleging of offense I did not commit. 1.That I used a bug on MAM platform, 2. That I made abnormal commission, 3. That I try to withdraw fraudulently earned money. 4. Abnormal activity on my accounts. 5 That I make False commission 6.That I manipulate the commission scheme.
1. Used bug on MAM account= I did not use a bug on MAM account, I did manual trading throughout, I traded with 0.01lots because of my volume trades, I used instant execution to place the trade like 10-15trades, I watched the trade went to at 3pips , then I closed it. You accept scalping and hedging that is what I did.
2. I did not try to withdraw fraudulently earned money, I have been withdrawn every week since the beginning of my partnership, I try to withdraw as usual from my partner's account.
4. FALSE COMMISSION = I don't make false commission, I make the true commission
5. ABNORMAL ACTIVITY ON MY ACCOUNT= There was no abnormal activity on my account, what they called abnormal is transfer to my clients accounts the system and company permits me to do that as a partner. in which I used to do. All 28 clients under my ib attached to my MAM account made a deposit to their account through me. I made a deposit to my transit account using my VISA debit card, I then transferred it to the client's account. Look at my transfer and withdraw history to ascertain this.
5. That I manipulate the commission scheme.= No, I didn't manipulate any commission, it was what we agreed upon that gave me the commissions By trading volume trades.

I wrote to their complaint department, they did nothing about the matter. Please tell them to pay all funds in my accounts.

Two steps that you must follow

1st - Invite them to join this thread via email (Send email to every possible address).

2nd - Go to their website and invite them to here via Live Chat
 

Pharaoh

Colonel
Messages
20,046
There is something wrong this this, but I don't believe it's your fault. Brokers should only accept deposits directly from the clients. Clients should deposit and withdraw only directly with the brokers. Having a "local depositor" IB is very convenient, until one side or the other grabs the client money and both sides accuse the other of doing it. I've heard of IBs getting tossed into jail over this, even when the evidence against the broker was stronger.
 

Bamdell

Recruit
Messages
5
We have confirmed that Hiwayfx is not regulated, they are scammers. they run forex broker without regulation. claimed to be regulated by the Cyprus Securities and Exchange Commission (CySEC) under license no 252/14. the license number belongs to Lucro Capital. Details of the owners and directors are unavailable.
Andrey Shvachko director chatting with someone on skype that Hiwayfx is not regulated. They deducted total $18000 from my five accounts, I can not report them to any regulatory body.
They are using Hiwayfx, Hiway Capital Ltd to scam.
 

HiWayFX

Company Representative
Messages
17
As I can see the users of this forum are very fast with their judgments that's why there is no point to proof anyone anything here.
Nevertheless, the company's official reply to this complaint:

Dear Mr. Bamidele,

Our support team already explained you the reasons why your commission was deducted.
In this e-mail I will explain it to you once again.

19/08/2016 you found out that if you open 0.01 lot on the MAM Manager’s account 12298 in all your slave accounts (28 accounts) will be opened the same 0.01 lot and you will get the commission of 10 $cents from each slave account so it’s 25*0.1 = $2.8. Where actually you traded only 0.01 lot and not 2.8 lots. This was a bug and you knew this because since Monday 22/08/2016 you traded ONLY 0.01 lot on your account 12298.
 

HiWayFX

Company Representative
Messages
17
The statement is attached.
As you can see the Client performed a normal trading activity from 28/07/2015 to 18/08/2016. Furthermore he barely user 0.01 lot in his trading. It is more than a year of trading.

But then suddenly from the middle of 19/08/2016 his trading strategy has been dramatically changed. Since 19/08/2016 Mr Bamidele didn't trade any other volume size but 0.01 and in 4 trading days Mr Bamidele performed 1812 trades which is 30% of the overall amount of trades he closed since he opened an account. This trading was absolutely meaningless in terms of earning a profit. The only reason of this trading was to get the commission on the Mr. Bamidele personal commission account.
 

Attachments

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Bamdell

Recruit
Messages
5
MY HIWAYFX ACCOUNT SCREEN SHOT. 2.PNG
The statement is attached.
As you can see the Client performed a normal trading activity from 28/07/2015 to 18/08/2016. Furthermore he barely user 0.01 lot in his trading. It is more than a year of trading.

But then suddenly from the middle of 19/08/2016 his trading strategy has been dramatically changed. Since 19/08/2016 Mr Bamidele didn't trade any other volume size but 0.01 and in 4 trading days Mr Bamidele performed 1812 trades which is 30% of the overall amount of trades he closed since he opened an account. This trading was absolutely meaningless in terms of earning a profit. The only reason of this trading was to get the commission on the Mr. Bamidele personal commission account.

You are making unnecessary excuses, if it is a bug why can't you correct it and reversed the trade for the period instead. You took all the losses i made during the trades because you are market makers broker, you took all your spread during the period of trading. Why can't you pay my commission.

What about the funds in all my account that you did not allow me to withdraw.

Anyway, i am presenting the matter to International Criminal Police Organization – INTERPOL.
Attached to the mail is my accounts that have been declined to withdraw.
 
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